Life Insurance

What is Life Insurance?

Life insurance protects your loved ones from financial security by giving them a tax-free payment when you die as long as you pay all the installments. There are different types of life insurance and the type of insurance you choose will depend according to your requirements. Your life insurance can be a part of your financial plan to make you access your money when you are alive.

The cost of buying life insurance will depend upon your gender, age, medical history, health, and lifestyle. Buying it will protect your family from much needed financial support they want. Avoid leaving your family from financial obligations by making sure your loved ones are protected with life insurance policy.

What kind of life insurance available with us?

There are two types of life insurance: Term life insurance and Permanent life insurance. Permanent further has two types: Universal life insurance and Participating life insurance (Whole Life Insurance).

Term Life Insurance:

Term life insurance is quite affordable offering you temporary protection to meet your needs with a fixed amount of insurance for a specific amount period. It is best when your insurance needs are higher and funds are limited. The policy offers tax-free cash benefits to your beneficiaries.

Permanent Life Insurance:

As the name says, the policy protects you for your entire life. It protects your family by replacing their lost income, covers debt and funeral planning, and a lot more.

Universal Life Insurance:

Universal life insurance is permanent life insurance that lets you protect you and your heirs. UL offers both protection and savings that you can use in several ways like helping you to cover the disability cost or supplementing retirement income as the price you make above the cost of insurance earns tax-preferred interest.

Participating Life Insurance:

Participating life insurance/ Whole life insurance helps you in different stages of life. It can be eligible to receive dividends to you buy more coverage, earn interest inside the plan, reduce your annual premium cost, cash, etc but make sure that Dividends are not guaranteed.
The base insurance protection in hole life insurance is guaranteed for life, as long as you pay the premiums on time.

Will you require life insurance?

Will your loved ones be financially impacted if you die? This critical question lets you answer the requirement of the life insurance policy.

Make sure all your debts are clear. Life insurance can be a key part of your finances. Plan the best policy by considering your income, debt, net worth, and family needs.

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